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What Analyst Projections for Key Metrics Reveal About Carvana (CVNA) Q3 Earnings
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Wall Street analysts forecast that Carvana (CVNA - Free Report) will report quarterly loss of $0.85 per share in its upcoming release, pointing to a year-over-year increase of 68.2%. It is anticipated that revenues will amount to $2.77 billion, exhibiting a decline of 18.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Carvana metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Sales and operating revenues- Other sales and revenues' should come in at $191.43 million. The estimate suggests a change of -2.8% year over year.
The consensus among analysts is that 'Sales and operating revenues- Wholesale sales and revenues' will reach $701.27 million. The estimate suggests a change of +0.6% year over year.
The average prediction of analysts places 'Per retail unit gross profit - Total' at $5,267.71. The estimate is in contrast to the year-ago figure of $3,500.
The combined assessment of analysts suggests that 'Per retail unit gross profit - Other' will likely reach $2,367.52. The estimate is in contrast to the year-ago figure of $1,921.
Based on the collective assessment of analysts, 'Wholesale vehicle unit sales' should arrive at 43,856. Compared to the current estimate, the company reported 47,763 in the same quarter of the previous year.
Analysts predict that the 'Per retail unit gross profit - Wholesale' will reach $575.45. The estimate compares to the year-ago value of $448.
Analysts forecast 'Average Selling Price - Wholesale vehicles' to reach $11,865.08. Compared to the current estimate, the company reported $14,593 in the same quarter of the previous year.
The consensus estimate for 'Gross Profit- Other' stands at $187.35 million. The estimate compares to the year-ago value of $197 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Wholesale' of $41.91 million. The estimate is in contrast to the year-ago figure of $46 million.
Carvana shares have witnessed a change of -29.3% in the past month, in contrast to the Zacks S&P 500 composite's -2.2% move. With a Zacks Rank #2 (Buy), CVNA is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About Carvana (CVNA) Q3 Earnings
Wall Street analysts forecast that Carvana (CVNA - Free Report) will report quarterly loss of $0.85 per share in its upcoming release, pointing to a year-over-year increase of 68.2%. It is anticipated that revenues will amount to $2.77 billion, exhibiting a decline of 18.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Carvana metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Sales and operating revenues- Other sales and revenues' should come in at $191.43 million. The estimate suggests a change of -2.8% year over year.
The consensus among analysts is that 'Sales and operating revenues- Wholesale sales and revenues' will reach $701.27 million. The estimate suggests a change of +0.6% year over year.
The average prediction of analysts places 'Per retail unit gross profit - Total' at $5,267.71. The estimate is in contrast to the year-ago figure of $3,500.
The combined assessment of analysts suggests that 'Per retail unit gross profit - Other' will likely reach $2,367.52. The estimate is in contrast to the year-ago figure of $1,921.
Based on the collective assessment of analysts, 'Wholesale vehicle unit sales' should arrive at 43,856. Compared to the current estimate, the company reported 47,763 in the same quarter of the previous year.
Analysts predict that the 'Per retail unit gross profit - Wholesale' will reach $575.45. The estimate compares to the year-ago value of $448.
Analysts forecast 'Average Selling Price - Wholesale vehicles' to reach $11,865.08. Compared to the current estimate, the company reported $14,593 in the same quarter of the previous year.
The consensus estimate for 'Gross Profit- Other' stands at $187.35 million. The estimate compares to the year-ago value of $197 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Wholesale' of $41.91 million. The estimate is in contrast to the year-ago figure of $46 million.
View all Key Company Metrics for Carvana here>>>
Carvana shares have witnessed a change of -29.3% in the past month, in contrast to the Zacks S&P 500 composite's -2.2% move. With a Zacks Rank #2 (Buy), CVNA is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>